Questions and Answers: Belsize Park Lease Extensions

  • We have just completed on a one bedroom apartment based inBelsize Park and I'm considering extending the lease as soon as possible e.g. in two years
  • I’m just looking for a studio flat to purchase in the Belsize Park area and was after more information on how much would it cost for a lease extension? It has 78 years left...
  • I am looking for a lease extension on the lease on my garden flat in Belsize Park which will have seventy five years remaining in August. What fees do you charge for this?
  • I am going to purchase a flat located in Belsize Park. My offer is subject to the lease extension. The seller’s has served the Section 42 Notice. Once this notice has been accepted by the freeholder, it is possible for the lessee to assign the benefit of that notice to me, the buyer, so that the buyer “stands in the shoes” of the Lessee, so to speak. I was wondering if this could be a problem for the mortgage lender The Royal Bank of Scotland. Moreover, which are the following lease extension steps to complete the purchase?
  • I'm thinking of buying a ground floor flat (leasehold) but the landlord has been absent for around 15yrs. My question is would it be cheaper to try to buy the reversionary title or to extend lease and apply for right to manage?
  • My co-lessees and I are in a block made up five flats in Belsize Park and have been offered to buy the freehold for 5k per flat rather than go for lease extensions. We are all in agreement that we want to do this but how do we get started and what is the likely cost?
  • We have a residential flat in Belsize Park with seventy seven years unexpired. Ten months ago we were quoted a deal to have a lease extension for a further 25 years but also uplift the ground rent from nominal to a little more..plus a premium I think of approximately 16k. Finally we have decided to go ahead but do we now have to renegotiate?
  • My husband and I are considering purchasing a two bedroom ground floor purpose built maisonette in Belsize Park which is a leasehold. I am wondering what are the advantages and disadvantages of that - what happens when lease ends, the cost of a lease extension, can the freeholder of the property evict me from my own flat and prevent me from having a lease extension?
  • If somebody owns a flat with a lease of less than 80 years, they can afford the lease extension by borrowing the funds against the property, and the value of the flat with the new lease will more than cover the cost of the extension, then is there any justification for not extending the lease?
  • We are are hoping to complete on a garden flat in Belsize Park which has share of freehold and a leasehold. The lease was on the short side so the owner commenced extending the lease. The seller has submitted the lease extension paperwork to HMLR. A crucial aspect of the house buying process is for our to do a "priority search" on the property title. The concern here is that as a lease extension has been submitted we've been told by our it may not be possible to do this "priority search" right now as the new lease title number is not known. Is it correct that we have to wait until the new lease is registered?

    • Find out more about a accredited conveyancer's need to have CQS Policy Templates applicable for conveyancers in Belsize Park